The Covenant of Mayors Office will provide an overview of various opportunities for financing climate change adaptation in municipalities, of several resources that feature practical city experiences, and of a tool that gathers information on EU-wide funding initiatives, support services and innovative financing schemes.

We will delve deeper into one of these schemes, the Natural Capital Financing Facility (NCFF) of the European Investment Bank (EIB). This financial instrument supports projects delivering on biodiversity and climate adaptation through tailored loans and investments, backed by an EU guarantee.

The City of Athens will elaborate on how they have availed of the NCFF to implement their resilience strategy and reduce urban heat islands, increase natural water infiltration through the integration of nature-based solutions in public spaces.

The City of Rotterdam has vast experience with implementing adaptation measures in what can be named the ‘learning & experimenting phase’. Funding and financing is mainly from public means. We will hear how these have been put into practice and what are the lessons learned. A challenge is to scale up the adaptation approach in the city and involve private asset owners and developers. We will hear what discussions take place and what options are in sight.